• EUR/JPY reclaims the area above the 143.00 mark.
• Further upside seems likely in the short term.

EUR/JPY advances for the third session in a row to multi-day peaks north of the 143.00 mark on Wednesday.

The rebound appears strong and the continuation of this price action should target the 2023 high at 145.56 (March 2) ahead of a potential visit to the December 2022 peak at 146.72 (December 15).

In the meantime, extra losses remain on the cards while the cross trades below the 200-day SMA, today at 141.79.

EUR/JPY daily chart